CECL(SH:600675)2015-04-29 16:00Financial Performance - Operating revenue for the current period was CNY 459,290,001.18, representing a decline of 32.10% year-over-year[7]. - Net profit attributable to shareholders of the listed company was CNY -251,504,436.16, compared to CNY -321,398,546.70 in the same period last year[7]. - Basic earnings per share for the current period was CNY -0.101, a decrease of 163.13% compared to CNY 0.160 in the previous year[7]. - The weighted average return on net assets decreased by 8.82 percentage points to -3.75%[7]. - The company reported a net cash flow from operating activities of CNY -204,266,005.87, an improvement from CNY -970,714,693.51 in the same period last year[7]. - The company's revenue for the reporting period was RMB 459,290,001.18, a decrease of 32.10% compared to the previous period, primarily due to major projects not meeting revenue recognition conditions[12]. - The net profit attributable to the parent company was a loss of RMB 189,456,373.78, representing a decline of 163.46% compared to the previous year, influenced by a high comparative base from the previous period's investment gains[12]. - Total operating revenue for Q1 2015 was ¥459,290,001.18, a decrease of 32.2% compared to ¥676,420,409.99 in the same period last year[29]. - Net profit for Q1 2015 was a loss of ¥188,887,256.73, compared to a profit of ¥351,524,002.91 in Q1 2014[30]. - The net profit for Q1 2015 was -143,503,633.38 RMB, an improvement from -210,294,848.11 RMB in the same period last year, indicating a reduction in losses by approximately 31.7%[34]. - Total comprehensive income for Q1 2015 was -143,503,633.38 RMB, compared to -243,399,532.74 RMB in Q1 2014, reflecting a year-over-year improvement of about 41.1%[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 40,501,252,488.25, a decrease of 0.77% compared to the end of the previous year[7]. - The company's total assets in the balance sheet increased significantly, with "Other Current Assets" rising by 2432.71% to RMB 377,162,161.92 due to corresponding investments made during the reporting period[11]. - The company reported a total asset of CNY 40.50 billion as of March 31, 2015, a decrease from CNY 40.81 billion at the beginning of the year[19]. - The company's cash and cash equivalents decreased to CNY 3.79 billion from CNY 4.63 billion at the beginning of the year, representing a decline of approximately 18.3%[20]. - The total liabilities of the company were CNY 33.20 billion, slightly down from CNY 33.47 billion at the start of the year[22]. - The company reported a decrease in non-current liabilities to CNY 13.78 billion from CNY 13.08 billion[22]. - The company’s total equity was CNY 7.30 billion, a slight decrease from CNY 7.35 billion at the beginning of the year[22]. - Total liabilities rose to ¥13,773,629,007.97, compared to ¥13,356,611,146.85 in the same period last year[26]. - The company’s total equity decreased to ¥1,405,868,169.88 from ¥1,549,371,803.26 year-over-year[26]. Shareholder Information - The total number of shareholders at the end of the reporting period was 125,559[9]. - The largest shareholder, Shanghai Real Estate (Group) Co., Ltd., held 36.36% of the shares[9]. - The company did not have any strategic investors or general legal entities participating in the new share placement during the reporting period[10]. Cash Flow - Cash inflow from operating activities totaled 1,549,533,077.89 RMB, slightly up from 1,522,354,982.79 RMB in the previous year, showing a marginal increase of 1.8%[37]. - Cash outflow from operating activities was 1,753,799,083.76 RMB, down from 2,493,069,676.30 RMB in Q1 2014, representing a decrease of approximately 29.6%[37]. - Net cash flow from operating activities was -204,266,005.87 RMB, an improvement from -970,714,693.51 RMB in the same period last year, indicating a reduction in negative cash flow by about 78.9%[37]. - Cash flow from investing activities showed a net outflow of -350,688,460.25 RMB, compared to a net inflow of 1,172,261,671.92 RMB in Q1 2014, reflecting a significant change in investment strategy[37]. - Cash flow from financing activities resulted in a net outflow of -209,909,185.21 RMB, a decrease from a net inflow of 2,313,554,228.01 RMB in the previous year, indicating a shift in financing approach[38]. - The ending cash and cash equivalents balance as of the end of Q1 2015 was 3,554,718,866.12 RMB, down from 4,727,675,536.23 RMB at the end of Q1 2014, representing a decrease of approximately 25%[38]. - The company received 1,889,333,533.84 RMB in cash from financing activities, a decrease of about 57.5% compared to 4,434,758,749.30 RMB in Q1 2014[38]. Operational Insights - The company anticipates that it will not achieve profitability from the beginning of the year until the next reporting period due to major projects not being ready for revenue recognition[14]. - The company plans to issue private placement bonds with a total face value of no more than RMB 3 billion, which has been approved by the board and is currently in the material preparation stage[13]. - The company has committed to avoiding competition with its controlling shareholder, Shanghai Real Estate (Group) Co., Ltd., by not participating in land bidding and restructuring its subsidiaries engaged in similar business[13]. - The company sold a total of 30,742 square meters of property in the first quarter of 2015, with a settlement area of 15,761.25 square meters during the same period[15]. - The company has ongoing construction projects with a completion rate of 94.5% for Songjiang Yupin and 87.5% for Gubei Xiangti[16]. - The company's rental income for the first quarter was CNY 9.69 million, with an average rental price of CNY 8.79 per square meter for the shopping center and shops[17]. - The occupancy rate for the company's major projects was 80% for Gubei International Garden and 100% for Gubei International Wealth Center Phase II[17]. Cost Management - The company plans to focus on cost reduction strategies and improving operational efficiency in the upcoming quarters[30]. - Total operating costs for Q1 2015 were ¥703,895,524.20, down 23.3% from ¥917,055,001.37 year-over-year[30]. - The company reported a significant decrease in investment income, which fell to ¥18,641,980.48 from ¥819,437,269.93 year-over-year[30].